PACK EXPO Las Vegas, Sept. 28, 2015 — The U.S. packaging machinery market grew 4.2 percent from 2013 to 2014, coming in at $9.41 billion, according to the 2015 PMMI State of the Industry U.S. Packaging Machinery Report. The report also notes a 4.4 percent increase in domestic shipments, growth of 1.6 percent in exports and growth of 3.6 percent in imports. The order backlog as of Dec. 31, 2014 decreased by 6.4 percent.
|U.S. Packaging Machinery Production – Domestic Shipments||$7,489||$7,127||4.4%|
|U.S. Packaging Machinery Production – Total Shipments*||$8,183||$7,855||4.2%|
|The U.S. Packaging Machinery Market*||$9,410||$9,027||4.2%|
|Order Backlog as of December 31*||$2,284||$2,441||-6.4%|
* 2013 data as shown in the 2014 PMMI State of the Industry Study.
** Source: U.S. Census Bureau, Packaging Machinery (HS 8422.20 — 8422.40)
PMMI, The Association for Processing and Packaging Technologies, produces the State of the Industry Study based on U.S. Census Bureau reports and shipments data provided by association members who manufacture packaging machinery. The report, which analyzes 27 packaging machinery categories, describes trends and the outlook for packaging machinery shipments through 2019.
The largest industry sector for packaging machinery is food, but it’s not the fastest growing, the study reports. That honor goes to the pharmaceuticals sector, which is forecast to grow at a compound annual growth rate (CAGR) of 2.7 percent to 2019. Behind pharmaceuticals, the forecast for the beverage market is a 2 percent CAGR.
“This year’s report also addresses the impacts of outside factors, from legislation to retailers to population growth, on the packaging machinery market,” says Jorge Izquierdo, vice president, market development, PMMI. “For example, it points to The Drug Quality and Security Act (DQSA), which created a national regulation for pharmaceutical serialization and track and trace, as the source of the growth we’re seeing in packaging machinery for the pharmaceutical sector.”
Within the United States, the value of shipments of packaging machinery grew from $7.1 billion to $7.5 billion from 2013 to 2014. Growth is expected to continue at a 1.6 percent CAGR, reaching $8.1 billion by 2019.
PMMI, which owns and produces the PACK EXPO portfolio of trade shows, released the results of the study this morning in a media briefing at PACK EXPO Las Vegas and Pharma EXPO 2015. With over 2,000 exhibitors in more than 800,000 net square feet of exhibit space, the co-located shows are welcoming 30,000 attendees to the Las Vegas Convention Center this week. To learn more, download the Executive Summary of this report at PMMI.org/research.